Family Bank Limited Salary Personal Loan: Product Details & How to Apply

Rates available from as of 1st April 2021
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Family Bank Limited

Salary Loan
Easy Apply
Amount
Ksh50k - 3M
Duration
6 months - 2 years
Interest Rate
13% annualised
Total Cost Including Institution's Other Fees
17% annualised, year one
Requires at least 3 months active account history
Easy Apply
visit website

Loan Type

Unsecured Loans

*Processing Fees and Excise duty are only applied to year one. For loans longer than one year, your annual cost from year two onwards will be between 13.0% - 13.5%.


Total Cost Breakdown (Loan Fees):

  • Interest Minimum: 13%
  • Interest Maximum: 13%
  • Processing fee: 3%
  • Insurance Fee: 0.5%
  • Withdrawal Fee: None
  • Late Fees: None
  • Other Fees: 20% Excise Duty on Processing Fee

Disbursement Details:

  • Institution Type: Commercial Bank
  • Application Method: Paperwork
  • Disbursement Method: Bank account

Repayment Details:

  • Repayment Frequency: Monthly
  • Early Repayment: Allowed
  • Repayment Method: Auto-deduction

Eligibility Requirement:

  • Smartphone: Not Required
  • CRB: Must be in good standing
  • Income: No Minimum
  • Employment: Required
  • Network: Not required
  • History: Active account for 3 Months

Documents:

  • National ID
  • KRA Pin
  • Application Form filled and signed
  • 3 Latest pay-slips,
  • T&C Links

How to Apply

 

Money254 Review

Pros:

  • Affordable credit insurance (deducted from Loan amount)
  • High Maximum loan limit of up-to 3 million
  • No late repayment fees

Cons:

  • Must have an active salary account for 3 months
  • Formal Employment required
  • Branch visit for application, paperwork required

 

See more Personal Loans available in Kenya on Money254

From short-term app loans to long-term bank loans, we have aggregated all of the unsecured Personal Loans from Kenya's top financial institutions.

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How to Apply for Family Bank Kenya Salary Loan, Repayment, Fees, Contacts

The Family Bank Kenya salary loans are available to all Family Bank account holders who process a regular income from their employers. 

Your salary is the security.

Who Is Eligible For Family Bank Kenya Salary Loans?

Loan Limits and Interest Rates

How to Apply for Family Bank Kenya Salary Loan

Family Bank Kenya Salary Loan Repayment

Fees and Penalties

Contacts

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